As you can see from the chart below, according to the GMLS, November had a slight rise over last November with 34 single family homes sold in Greenwich as compared to 30 last November. Some of the other statistics indicate that this November pretty solid all around with a slight increase in the list to sale price ratio. This is a key piece of information that all sellers should note and it is often attributed to days on market.
Statistics show that there is a real decline in average sale to list price the longer a house stays on the market. Year to date the average list to sale was 97.1% in...

August was a pretty good month in Greenwich real estate even with Irene paying us a call. There were 47 closings on single family homes and 32 accepted offers, contingency contracts or executed contracts. Most of the homes, 13 of them sold in the $2,000,000- $2,999,999 price range with 9 selling in the $1,000,000 – $1,499,999 range. Only 2 sold over $5,000,000 and 2 under $599,999. Median days on market were 91 and median list to sale price ratio was 94.6%. It seems that a lot of sellers priced their homes pretty reasonably and the buyers were able to see that.
In this economy,...

We’ve talked in this newsletter before about statistics and how they can be influenced to say something that isn’t quite what it appears to be. The first of July had a monumental state conveyance tax increase which pushed the number of closings up in June. And while the market has been perking along, this tax change provided great incentive to close in June and not in July so the numbers are skewed.
That being said we had 105 single family home sales in the town of Greenwich during the month of June. The median list price was $1,895,000; median closing price was $1,680,000 with median...

May was a great month in the Greenwich Real Estate Market. It seems that once the weather got nice, buyers were out and ready to buy so they could take advantage of all that Greenwich has to offer in the summer time. With 55 single family homes sold through the Greenwich Multiple Listing Service in May and a median sale price of $1,740,000, the market was up over May of last year and the year before.
Not surprising that 2009 had only 17 sales but this May was up 15 single family homes over last year at this time. The hottest price point is the $1,000,000 to $1,999,999 with 18 single...